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is all this rain cutting into holiday shopping and affecting the economy? cbs 5 reporter elizabeth cook has that part of the story. >> reporter: just some on and off drizzle here on walnut creek. earlier today the east bank was pummeled with two and a half inches of rain. it's still bustling with business. some small businesses are worried that could all change by this weekend. >> big storm even bigger headache. as commuters try to navigate their way through the rain maintenance crews just try to keep up. >> we've been pretty busy. a lot of flooding. >> a clogged storm drain at this shopping center left shoppers no choice but to wade through knee deep water to get to their cars. visibility was so bad in oakland a man almost fell off his bike when he couldn't see the sidewalk. chp crews had their hands full including a spin out on highway 24 and an uprooted tree on saint stevens drive. a heavy tree limb landed on a van while it was going down wildcat road bending the roof and blowing out the windows. the two people inside were shaken but not hurt. in walnut creek instead of watching the
can be validated. let's get this but do it in a way that exacerbates the uncertain economy. the second -- we have to happen through innovation. whether it is the space program or tax credits for renewable energy. all that is important. we have to keep that going. that will get hard because we will face is demographics. that is my 74th birthday on april 7. i am aware of the and aging population which i have become and we are an aging population relative to what we were. luckily, we have millions of fresh arrivals that are younger and are energetic and they come from all over the world. we have to make sure our education system lifts them to their highest aspirations. when the society ages, it tends to -- it declines. that is the big demographic imperative. i was reviewing one of my favorite books on the roman republic. how did this village on the tiber grow to be the absolute leader of the known world in a few hundred years? it expanded its territory by plunder, by what ever. details. it was not pretty. [laughter] it added people, it kept getting bigger and incorporated the people and t
on the possible impact of voter-approved prop 30. what the tax increases could do to the economy. >> we're going through a shift. >> it's called tv everywhere. later efforts by a bay area company to bring programs you want to lap top or tab blet. >> stay with us for that and raider days here on abc 7 begins in less than 20 minutes with a special pregame edition of abc 7 news at 6:30. >> then, we'll get going home with -- tomorrow with larry beil hosting a special pregame show at 4:00 p.m. >> raiders greats will gin us for that. at 5:00 coverage of the denver oakland gamelin begins live right here on abc 7. once the game ends, larry, lincoln and rod will return with after the game. >> then, it's abc programming. and a special edition of abc 7 >>> the ports of los angeles and long beach open again. stringing clerical workers reached an agreement last night with the port's 14 shipping lines ending a walk coy in lost trades. the clerk as agreed on a pact providing protection from joby& outsourcing and layoffs. the ports handle 44% of the shipping container traffic. >> economists say prop 30, tax hi
received a flood of interest and the brand. they have a loss of 18,000 jobs. the u.s. economy grew at 2.7% for july through september. that is up from initial investment of 2%. this is the best third quarter performance in two years and companies spent more to build up inventories in the third quarter than originally estimated in the u.s. trade deficit. some positive news so let's see what happens on wall street when the bell rings and 15 to 20 minutes from now. >> ito's music software could launch as early as today. today is the second to last day before apples deadline for releasing new software. apple's last major overhaul of i tunes was september of 2010. >> we will take a closer look at a crime spree suspect that is just 15 years old. he is accused of robbing stores in the south bay. also your lead is weather and traffic on the kron4 morning news. a live look to the golden gate bridge it is dry on the 1 01 but his plan to get wet later on today. we will be back. when i take a picture of this check, it goes straight to the bank. oh. oh look the lion is out! no mommy no! don't worry
. and military spending cuts would hit california. >> defense is a big part of southern california economy. cuts would affect there. >> this afternoon the speaker of the house delivered the g.o.p.'s proposal reducing national debt by $2.2 trillion. including new tax revenue but leading cuts for the top 2% in place. today the president ignored reporter questions about that republican plan but later in a statement the white house rejected it. abc 7 news believes a deal will be struck about the deadline, it will be the republican that's give ground. >> i think this time around, obama learned from his past mistakes and importantly, advantage that if he does nothing he's in better shape than republicans oor professor cane says congressional republicans holding middle class cuts hostage in order to force the president's hand. the problem is the g.o.p. cannot afford to carry out that threat and they're blamed for raising everyone's taxes in order to protect the rich and put republican party in a dark hole. >> mark, thank you. >> on wall street today, stock prices fell on concern the deficit deadlock he
our local economy. >>> and when will we see the warmer weather temperatures again? any time soon? don't miss the updated first warning weather forecast with bob. >>> it's 51 degrees and clear in central maryland. the complete first warning weather forecast is coming up. >>> it's one of baltimore's favorite attractions. and support shows it is bringing in hundreds of millions of dollars into the city. wjz is live at the national aquarium do you want. christie ileto has more on what this means for the local economy. >>> a new report shows that most of the visitors are from out of town, that they spend big bucks here in the area. and that the national aquarium is their main reason for flocking to baltimore. >> reporter: for deborah hanley, when you come to baltimore, there is one place you have to go. >> the aquarium. today is my 60th birthday, and i'm skipping work to celebrate. >> reporter: that's the city's main attraction for handley and other visitors this year, according to a new report. numbers show these underwater creatures show large c
that show america's economy is growing faster than we thought. what's causing the surge? we'll look at that tonight on the "cbs evening news." someone who walked into this store in phoenix, arizona cd >>> ticket comes out of here. and it was that simple for somebody to win 200 whatever million they won. >> yeah. this much we know. somebody who walked into that store in phoenix, arizona is a multimillionaire. the other winning ticket for powerball sold in dearborn, missouri. the winners haven't come forward so we don't know how many people are splitting the prize. the jackpot reached $580 million before last night's drawing. and with the powerball saga being the talk of the nation, californians may feel left out. but a vote came down to sell starting lottery tickets in california in april. cbs 5 reporter anne makovec reports. >> every week twice a week super lotto, megaand even fantasy also. i try my luck. >> reporter: there is no shortage of dreamers in california. >> we give like 10 bucks a month and then we combine it. >> reporter: and we just had a winner in the bay area. ocean
immigrant women. it is a reflection of the economy and they think it may rise once the economy recovers. >>> americans may soon have more privacy. tonight they approved the communication privacy act. it require as police to get a warrant before reading posts. right now it is only needed for e-mails. some groups are concerned the change could hamper investigations. >> police officers don't like to be slowed down in their pursuit of offenders. >> committee chair said the law will better protect privacy in the digit age. >>> we are on storm watch tonight and coming up in 2 minutes the rush to repair as a new wave of rain makes its way into the bay area right now. we are tracking it. >> a flash flood watch takes effect in one hour for the bay area, the dangerous conditions we could see. >>> complete bay area news coverage starts right now, this is ktvu channel 2 news at 6:00 p.m. >>> more rain is arriving in the bay area right now. this is crews rushing to clean up and shore up for the second wave in a series of significant storms. >>> hello. i am frank somerville. >> and i am julie haener.
company were disappointed with the decision. oyster farming has been part of the local economy for more than a hundred years. >> we are staying on storm watch. live look at 7 hd. rain is falling in ukiah, cloverdale and santa rosa. forecast is just ahead. >> also ahead, a truck driver slams into a used car lot. tell you about bizarre cause of this accident. >> plus, two big winners. record powerball jacked. >> and later, an act of kindness. online sensation it has become today. >> coming up to 4:09 on thursday afternoon. first check on traffic. downtown san francisco, this a live look at the sky way. it's very heavy heading into the east bay. not all that much better heading southbound toward >>> in alameda county the driver of a big truck that smashed into a used car lot is blaming the wreck on a sneezing fit. caltrans cleaned up the oil snail was caused by the accident. the driver of the dump truck lost control while sneegz and crashed into a car lot. the driver was not cited. >>> a bankruptcy judge gave final approval for hostess to sell its assets. the maker of twinkies it's been in
away from our economy that needs to be invested in our economy to put the american people back to work. now, it is the wrong approach. sthao republicans want the tax cut extended for everyone not just the middle class. they will work towards an agreement before the january 1st deadline. the gridlock on capitol hill was left unchanged. nasdaq dropped chose to 2. the judge says the boy scouts do not have to release files containing decades of sexual abuse complaints. a court in texas allowed the release of files from 1959 to 1985. they listed hundreds of cases in which scout leaders or volunteers from the bay area were dismissed for their behavior. the order today covers files from 1985 to last year. the spokesman says keeping cases confidential encourages people to report abuse. >>> a south bay mansion is the scene of a homicide. why investigator his to rush to collect evidence. >>> and everyone wants to know is this the moment one man learned that his life had changed forever? the video that may answer the mystery surroundinged with's massive powerball jackpot. >>> and, we are still on
economy why don't we consider it? >> we won them to tell the american why they won't do it. >> the democratic controlled senate has are the agreed to extend the bush tax cuts for incomes under $250,000 but let the other tax cut expire. it is predicted their rugby at least a short-term deal released before the end of the year. >> of when it comes to a president's second inauguration at the crowd tends to be smaller. that will be the case again this january. the cross the present obama as inauguration on january 21st will be close to 800,000. that is the estimate right now. that is down quite a bit from the 1.8 million people crowded the national mall and 2008. >> i think that is san jose 1 01 northbound on the right-hand side. the commute has not started much, it looks fine. we will be right back. it looks like a positive day of trading the dow was up four points on friday. the nasdaq was up 1/2%. in national stockists stocks are on the rise. the institute for supply management releasing monthly manufacturing data for the u.s.. a committee of british lawmakers say in most ma
that's wa ood for the american economy is that a group of republicans weade they're going to block e's increase in tax rates on wealthy americans. >> reporter: geithner says he's optimistic a deal is possible. even as a key negotiator tells bs news the deadline to reach 15tromise is december 15th. e foress needs time for the rocessative process to work. to the house and senate to pass presidentnd for the president to sign it by december 31st. >> right now i would say we're eportee. period. we're nowhere. >> reporter: calling the president's plan to avert the asking fiff a nonserious proposal. th ohe president is asking for $1.6 trillion worth of new revenue over ten years. twice as much as he's been asking for in public. excee stimulus spending in here wast exceeded the amount of new not ahat he was willing to consider. it was not a serious offer. > i think we're going over the cliff. it's pretty clear to me they've ode a political calculation. this offer doesn't remotely deal with entitlement reform and a way to save medicare and medicaid and social security from imminent bankruptcy
and we think it would have a significantly negative impact on our economy but we are not backing one particular plan or the other. >> experts forecast economic turmoil in january, if a deal is not reached. in washington, i'm karin caifa. >> a controversial photograph generating making the roudns online -- generating outrage. police say a man in new york was pushed onto the subway tracks at a timesquare station -- then struck and killed by a train. a photographer on the platform picked up his camera as it all happened. we must warn you -- some viewers may find this picture disturbing. this is on the cover of the new york post. the subway train apparently just seconds away from hitting the victim. investigators say the man tried to pull himself up -- but could not make it. police are questioning a man fitting a desription from surveillance video. witnesses say the victim, and the suspect were arguing just before the crime. they also saw the suspect talking to himself. >> coming up there could be some rules and regulations for donation bins around the bay. and the next edition of peo
's economy. katie marzullo is live in the newsroom with that and the housing news. >> reporter: the new economic forecast from ucla has lukewarm predictions for california jobs and personal income will suffer under prop 30's tax hikes. housing improvements will help the state, california will continue to grow but not as much as it iced to. the forecast says the new tax -- tax revenues under prop 30 will slow economic growth but will not derail recovery. unemployment is one example jobless rate in california should average 10 1/2% by the end of the year improved to 9.7% in 2013 and fall to 8.4 in 2014. meanwhile, great news on home prices. they have surged more than 6% in one year, the biggest jump in six years. the median home price up $18,000 to $178,600. california is one of the top 10 states where prices are rising the fastest. just crossing the wires this morning, labor department reports u.s. workers were more productive this summer, they cost their companies less, that's good. banks are seeing profits again and starting to lend money a little more freely. katie marzullo, abc7 news
. it was estimated that the strike cost the local economy a billion dollars a day. >> as we take a break. when i take a picture of this check, it goes straight to the bank. oh. oh look the lion is out! no mommy no! don't worry honey, it only works on checks. deposit checks from your smartphone with chase quickdeposit. just snap a picture, hit send and done. take a step forward and chase what matters. your season is here. let's just call it the baking time of year. you need special ingredients. you need the staples. that's a given. you need safeway sugar for just $1.97. and that magic thing that makes everyone want another -- only $2.99 for challenge butter. and when hands get messy, quite surely they'll say, "yum! wow! yay! butter. what a sweeter holiday." safeway. ingredients for life. >> mall come back.along with the there was an accident at silver and there is there recent crash just before cesar chavez is still slowing down the commute. this am bound for weigh is starting to move a little better but it is still slow all the way from octavia street. there is also a report of flooding a rounaround
's economy. nannette miranda has the story tonight from sacramento. >> governor brown successfully got voters to approve proposition 30, a temporary income tax increase on high earners and a boost to the statewide sales tax to save public schools. but a new forecast calls it a double-edged sword because it will drag the economy slowing growth. >> republicans have been saying that for some time. any time that you have higher taxes, it changes behavior but it also dampens the economic recovery. >> they estimated payroll growth to be between 1-2% in the next two years. it predicts unemployment rate will average 10.5% by the end of the year and then go to 9.7% next year with a jobless rate of 8.4% in 2014. >> i think it's an oversimplification. >> an economist who is school finance consultant. he says it doesn't take into account if they rejected prop 30 six billion in cuts mostly to public education. he thinks californians want to trade short term growth for an investment in kids. >> we would have been looking at shortening the school day further, more kids out the streets. that is exactly what
toll it's taking on the economy. >> and a big sinkhole in the ground and a new storm on the way. we are learning how long an east bay neighborhood could have to live with this mess. >> and we're live in san francisco where all muni trains are back up and running after a power outage caused all of them to shut down last night. i spoke with the muni spokesman on the phone who says how they were able to get back up and running so quickly. ,,,,,,,, look at you guys with your fancy-schmancy u-verse high speed internet. you know, in my day you couldn't just start streaming six ways to sunday. you'd get knocked off. and sometimes, it took a minute to download a song. that's sixty seconds, for crying out loud. we know how long a minute is! sitting, waiting for an album to download. i still have back problems. you're only 14 and a half. he doesn't have back problems. you kids have got it too good if you ask me. [ male announcer ] now u-verse high speed internet has more speed options, reliability and ways to connect. rethink possible. you won't take our future. aids affects us all. even babi
. but what are they doing about it? >> at the top of the wish list, a deal to a voice sending the economy over the fiscal cliff. >> my hope is to get this done before christmas. >> today, the president joined by middle income earners reaching out to the administration about keeping taxes low. >> if congress does nothing, every family in america will see their taxes go up at the beginning of next year. >> the white house is urging americans to use social media to push congress to act. keying in on $2000 tax increase going into affect next year for the average family of four. >> what is that again? my two? k. tweet use, my 2 k or e mail. post it on member of congress's facebook wall. do what it takes to communicate a sense of urgency. >> they may not agree on details but house speaker john boehner and house minority leader agree on one thing. failure is not on the table. >> going over fiscal cliff will hurt our economy. >> boehner said republicans are committed to a compromise. >> rinz are willing to put revenue on the table. >> so hard ball politics were left to house majority leador eric
% increase from 2010. the study says the uptick is a sign more are confident about the economy. also cautions some chose to start their own businesses because they couldn't find other jobs. economists have said the economy won't fully recover until small businesses pick up the pace of hiring. >>> this morning the fda may be ready to turn to outside experts for advice on energy drinks. in the last month monster and five hour energy have come under scrutiny. now "the new york times" reports the fda may turn to experts from the institute of medicine and other agencies to determine whether those drinks pose a safety risk to consumers. this is a sign the fda does not plan to take immediate action on energy drinks. >>> average american household spends more than $1500 every year on cell phone service. there are ways to save. michael finney and consumer reports look at prepaid options. >> reporter: good morning. if you're looking to save on your cell phone bill, consumer reports says a prepaid plan maybe your best option. it seems like everyone is on a smartphone these days. and we are paying big bu
that the combination of the tax increases and spending cuts could de real the recovering economy. despite some initial sounds of cooperation after the election, the president and the house speaker john boehner do not appear close to a deal. kron4 catherine heenan explains. >> every family in america will see their income tax automatically go on january 1st. every family that means everyone here will see their taxes go up on january 1st. i am assuming that this does not sound too good to you. >> we know that when the treasury secretary issued the proposal to republicans they laughed. house speaker john banner stated that the ideal of boosting would be a crippling blow to the economy. >> let's not kid ourselves. the company cannot or sure they all for this. >> the key sticking point is taxes. democrats want to extend the bush cut for the middle class. republicans do not want to tax rate increase on anyone. the right hothe white house hopes tt if the president is taking this to the public and this will have congress act. the real negotiation is going on behind closed doors with just 32 days left. there a
. economists fear if washington can strike a deal the economy will fall back into recession and employment will shoot up. tahman bradley, abc news, washington. >>> sarah palin stepped out on the red carpet -- nancy pelosi stepped out on the red carpet for a night of glamour she strolled before photographers at last night's kennedy center honors she talked about efforts to resolve the impasse. >> this is not a night of politics and policy, but since you asked, yes we think it would be a wonderful christmas gift to the american people for the middle class to have a tax cut come january. >> pelosi says she will try to force a house vote on a senate passed bill to break the deadlock. >> the kennedy center on -- -- they received the nation's highest award. >>> let's look outside good morning. good news, it is dry this morning as we look down on some of the clouds hanging around some of the fog trying to form as we look from mount tamalpais this morning. the key is it is trying to form, right now too many high clouds out there, that's keeping the fog from forming. here's a look at live doppler,
innovative green building policies ensure while the city's population and economy continue to grow we are decreasing our carbon emissions and achieve a sustainable environment. for instance this requires all new buildings designed to meet the gas reduction goals. that means more than 6 million square feet of commercial space and 11,000 housing units all in the development pipeline have been designed using these principles. [applause] in fact san francisco was recently recognized by the world green building council as having the greenest building policy by any local level in the year 2011 and we just began implementing our existing commercial energy performance ordinance which helps private property owners lower energy use. through san francisco's program green sf we are making it easier for property owners to secure financing for green building upgrades and as can you see green buildings has become the standard rather than the exception. for our public libraries to affordable housing units, even to the home of our world series giants and their structure our buildings are achieving
billions of dollars according to economic forecasters. that's a big blow to an economy just getting out of a crisis. >> the strike is not only costly to the economy, it could also delay shipments of merchandise to be shoulder over the holiday season. >>> time now 6:40. tech gadgets are the hot items on this year's wish list. cnet's brian cooley is here to break down the top picks. >> the early numbers on the stock market a mixed bag. lots of time though. we'll chat about it with jason brooks when we come back. be at bank of america, we're continuing to lend and invest in the people, businesses, and organizations that call the bay area home. whether it's helping a nonprofit provide safe, affordable housing within the city, supporting an organization that's helping kids find jobs and stay in school, or financing the expansion of a local company that's creating healthier workplaces, what's important to the people of the bay area is important to us. and we're proud to work with all those who are making our communities stronger. powerful typhoon in the philippines. typhoon bop (boe-pah) roar
of the discussions both in terms of the impact it has on our finances and our economies. >> reporter: state government cost lose much-needed federal aid if democrats and republicans don't reach a deal to stop automatic spending cuts before the end of the year. the other issue is taxes. congressional republicans want bush-era tax cuts extended for all americans. president obama says those tax cuts must expire for households making $250,000 or more. >> it's a position that is supported by a majority of the american people. and, you know, we need to see from republicans an acknowledgement of that. >> reporter: the gop proposal that the white house quickly rejected closes tax loopholes and reduces deductions to raise 800 billion-dollar in new revenue. the plan cuts $600 billion in healthcare entitlement programs. >> we are overspending and until you deal with that issue you cannot raise taxes enough to be able to keep one a trillion dollars of accelerate spending. >> reporter: republicans dismissed the president's plan late last week. but now that both sides have numbers on the table, some con
is costing u.s. economy estimated $1pgañ billion per day in lost trades. truckers honoring ticket lines. clerical union says the únf$wguz is jobs being shipped overseas. the port says it's offering 600 clerksz lifetime job security. >> former command yefr a task force is pleading guilty. the attorney tells axe bc 7 news the client will admit to five counts tomorrow in oakland, welsh is accused of stealing drugs from evidence lockers trying to sell drugs on the streets. he was caught in a sting operation in february, last year with guilty plea, he faces a minimum of 10 years in prison. >> santa clara county board president wril have to immediately pay back nearly $13,000 after using his taxpayer funded credit cards for personal expenses. our media partner has obtained a scathing internal audit revealing supervisor wrapped up $36,000 in questionable charges in taking office in 2009. they include car rentals, and stays at casino hotel autos still ahead on abc 7 news at 4:00 net flix signs a deal with disney. >> arnold schwartzeneggar taking three? he fought global warming. >> later let s
of being pumped into the economy. those in favor of allowing the tax cut to expire argue money for social security payments has to come from somewhere. although he says that somewhere will mean doing without some of the basics. >> it might be a pair of sneakers. it might be the jacket they want to go to school with in the winter. >> the debate in washington is not about the federal budget it's about his family's. jim axle rod cbs news west new york new jersey. >> where in the world is john macafy. why he high tailed it to a luxury resort to try and clear his name. >>> plans to build a little dog park turned into an epic fight in one bay area city. (car horn) paying with your smartphone instead of cash... (phone rings) that's a step forward. with chase quickpay, you can send money directly to anyone's checking account. i guess he's a kicker... again, again! oh, no you don't! take a step forward and chase what matters. fire. and in this case, bushels of pot, as well. a two-alarm house fire in te haight led police to a sizee grow operation. police ended up pulling out bags of marijuana plant
as proved in proposition 30 could have on state economy. abc 7 news joins us live now with the story. nannette? >> well, higher taxes are not expected to be a major hit to the economy. if you're looking for a job it's hard to hear about a possible slow down in highering. governor brown got voters last month to approve proposition 30. a temporary income tax increase and a boos0qz the sales tax to save public schools. but a new anderson forecast called it a double edged sword because that will have a slight drag on the committee, slowing california growth. >> republicans have been saying that sometime. it change behaviors. it's dampening economic recovery. >> the forecast estimates payroll growth hovering between 1% and 2% in next two years. it predicts the rate will average 10.5% by the end of the year, then improve to 9.7% next year with the jobless rate around 8.4% in 2014. >> jerry shelton is a school finance consultant and says the report doesn't take into aif the kth what would have happened if voters rejected prop 30. $6 billion in cuts, mostly to public education. he thinks$c]b
.s. economy and aging population in mexico. 80% of all illegal immigration comes from mexico and latin america. >>> mike has the forecast, especially -- [ inaudible ] >>> it is raiders day! how is the weather going to be? >> great for football upper 50s falling into the lower 50s partly cloudy. if you are heading out this morning to tailgate you are going to run into mist and fog by noon that will start to lift and we'll see sunshine this afternoon, mainly low to mid 60s. around the state doppler radar dry across the entire state. a lot of 50s mid to upper 50s eureka, chico, sacramento. 49 in tahoe. >>> if you are headed to that raider game, expect a lot of traffic on 80 by the coliseum later today, give yourself plenty of time. san jose clear conditions on 87 northbound light traffic a little haze you may need your wipers for drizzle, eastbound 580 north flynn roadwork until 11, three lanes blocked off, westbound good leaving tracy up towards the altamont pass. roadwork eastbound dumbarton until 6:00. >>> 4:56. dispute over the price of crab is keeping fishermen on dry ground. more than 100 b
of apple makes a major announcement about its mac computers that could be a big boost to the u.s. economy. , introducing at&t u-verse high speed internet with more speed options, reliability and wi-fi hot spots than ever. call at&t now to get u-verse high speed internet for as little as $14.95 a month for 12 months with a one-year price guarantee. it's the fastest internet for the price. our newly expanded advanced digital network gives you more of what you enjoy online. and with at&t, our wireless gateway turns your home into a private wi-fi hot spot that connects your wi-fi devices and can even save on your smart phone data usage at home. so call now to get at&t u-verse high speed internet for just $14.95 a month for 12 months with a one-year price guarantee. that includes access on-the-go to our entire national wi-fi hot spot network, with over 30,000 hot spots. at&t u-verse high speed internet. now on our newly expanded advanced digital network, a connection your whole house can count on. ♪ your season is here. let's just call it the baking time of year. you need special ingredients
it is aggressive with a good year it is helping already economy. purchases were up for the month of october, with a 5.2% and was only supposed to be a one-person climate. so people feel better and better they're putting it there homes of personal we were supposed to only see a-1% climbing up prices. and a substantial component to our building block of our economy. >> they do not seem to like macy's, donald trump is that having an impact on his product at macy's? >> i have never understood this in any way, shape, form. they look at this as a businessman. he made his money by inherited his a father's money. despite the wanted to dump truck with macy's the have not done it. and even the c f o came out of we listen to the customer. but they should take a look at the new research that came from yougov.. the approval pretty tea-35 it has plunged below to the worst retell author, which is j.c. penney. macy's is collapsing. maybe it has something to do with donald trump? maybe it does not but he got a little bit crazy about the obama birthright. it could be ultimately hurting macy's. >> let me try
is if there is a another way to get revenue from upper income americans that does not hurt our economy why would we not consider it. >> the president wants to in the bush era tax cuts for people making more than a quarter of a million dollars per year. the average middle-class public to pay about 2000 a year more in taxes. >> there is no reason why 98 percent of americans have to see their taxes go up because some members of congress on the republican side want to block tax rate increases for 2 percent of the most wealthy americans. >> nancy pelosi pushing for a house vote. >> we think it would be a wonderful christmas gift for the american people to receive a tax cut in january. >> we are optimistic. >> republican senator linda grant is pessimistic sang that it is a joke. >> the clock is ticking. i am andrew spencer reporting. >> we will take a quick break on the kron for morning news will have more headlines. in the meantime here are some of your pictures from this weekend's storm. send us your pictures and keep them coming fifth the e-mail address to send it to is for breaking news at kron4.com.
on the economy out there. the labor department reporting that first time weekly claims fell 23,000 to 393,000 and for the first time in several weeks, superstorm sandy not distorting figures. now the overall trend is still distorted. the four-week average rose to 450,000. and another look at the economy, come from the commerce department its second look at 3rd quarter gross domestic product overall economic growth revising it higher to 2.7% from an earlier estimate of 2% also compared to 1.3% in the 2nd quarter. now, the 4th quarter is likely to be impacted by sandy and also from "fiscal cliff" worries. as far as the "fiscal cliff" goes, politico is reporting this morning that there is a framework for a deal in place that would include $1.2 trillion in tax increases and $400 billion in entitlement cuts on medicare. wall street watching that closely. let's look at the numbers. the dow is up by 45 points after gaining more than 100 yesterday. it's back over 13,000. nasdaq higher by 19. s&p right now is up by 6 points. back to you. >> thank you, jason brooks with kcbs and cbsmoneywatch.com.
a number of positive signals on the economy. consumer spending did pull back in october according to the commerce department by 2/10 this is the of a percent following an 8/10th of a percent of gain in the previous month. superstorm sandy depressed spending. unless holiday sales soar over the 4th quarter it's going to be tough for the economy to continue the gain of 2.7% that the commerce department reported in the 3rd quarter yesterday. stockton focused on any talks out of d.c. -- stock market focused on any talks out of d.c. on the "fiscal cliff." the dow over 13,000. pretty modest start to the day today. right now the dow is up by 5 points. nasdaq though falling by 3. s&p down by one. social game maker zynga getting hit hard after announcing it and facebook are changing their partnership. zynga down 7.5%, facebook down slightly. back to you. >> thank you, jason brooks with kcbs and cbsmoneywatch.com. >>> a tale of two uncomfortable pairings. first the san francisco 49ers with two starting quarterbacks. and a power lunch between the president and his former republican rival. >>
the u.s. economy $1 billion a day. >>> all right, roberta gonzales. in for paul deanno, good to see you. >> always good to see you, dana and allen. [ laughter ] >> both of you. i think you guys just allowed me it come in to dry off for a couple of days here after a soaking week. boy, today did we have plenty of precipitation around the bay area. good evening, everyone. let's go ahead to berkeley where today, nearly 9/10ths of an inch of rain fell just today alone so people were out and about with their umbrellas and everybody has been asking, what does this mean for the high sierra? this is our weather camera in the greater lake tahoe area. we did have two feet of snow above 7,000 feet but for the most part high temperatures there today was in the upper 40s. a very warm storm. but right now, it's live, it's high-def doppler radar. it's still picking up some very light precipitation. primarily around highway 101 for the evening commute. anywhere from morgan hill all the way into gilroy but that's it. the system is out of here after producing some copious amounts of rain today. a third of
: the economy likely created just 80,000 new jobs last month down dramatically from the 171,000 in october. the unemployment rate could inch up to about 8%. we were at 7.9% last month. this falloff in job creation is likely due to a combination of the effects of superstorm sandy but also worries over the "fiscal cliff." >> jill, when can we expect to see the sandy-related impact diminish? >> reporter: to gauge the effect i went back to the data after hurricane katrina. katrina was a larger storm but sandy struck an area with a larger population so i think the impact on employment might look pretty similar. it took two months after katrina to return to the previous trend job growth. that means that hopefully by january, things should settle down in the data and we'll have to endure a couple of rotten months on the way. >> there we go. and we have this thing that "fiscal cliff," that so-called "fiscal cliff" "fiscal cliff" that we're sick of. how is that going to impact the whole job situation? >> reporter: you know, for a while it looks like it wasn't going to but in recent surveys we see t
economy. it's why it's not the right approach. >> reporter: obama administration officials will look for some middle ground in separate meetings with boehner and other congressional leaders on capitol hill thursday. danielle nottingham, cbs 5, washington. >>> it was too toxic for clothing but not too dangerous for furniture. >> but chemicals in our furniture and our baby products, the epa does not have the authority to regulate them and they end up in our bodies. >> how a california law is contributing to the problem. >>> a 3,000-mile tribute to a life lost much too young. the message friends want people hear as they run coast to coast. ,, now, you're probably sittinn a pound of toxic chemicals.5 consumerwatch reporter julie watts explains one of those >>> if you are sitting on/couch you're probably sitting on a pound of toxic chemicals. cbs 5 consumerwatch reporter julie watts explains one of those chemicals was banned decades ago. >> so in the '70s, every child in america was wearing pajamas that were like 10% by weight chemical. >> reporter: after she discovered the common flame
businesses to be the last things cut. they're the fabric of the country and economy. so want to stress that to them. how important this has been for us and others too. >> he admits the small business benefited from incentive programs. now they have 31 employees. >> new jersey governor says super storm sandy caused $37 billion in damage to his state saying 30,000 homes or businesses were destroyed or sustained damage. he's requesting $37 billion from the federal government. >> and a new un climate change report out says sea level could be prizing -- rising faster than thought. that is especially troubling for those of us living and working near the edge of the bay. and more on the flooding dangers that could be around the corner. >> at high tide this submerged staircase is an erie reminder of the inches separating dry land from water. in 2008 bay waters flooded streets and sidewalks like they did in twut. the united nationspfip level sea levels are rising faster than predicted. >> today's flood going to be tomorrow's high tides. and so we need to get ready for changes, a deeper bay. a b
. they will talk tomorrow about ideas reviving the economy. president obama said that he would reach out to mitt romney and hold that private meeting after the election. today the president met with yahoo ceo marissa myer. she is trying to avoid the fiscal cliff. and she told a reporter, quote the baby has been way easier than everybody made it out to be. 37-year-old added she had an easy pregnancy and two-year-old son has been easy. she is very clear on her priorities, god, family and yahoo in that order. in the five months she has been in charge and yahoo took has hit 52 week highs. >> as we continue. search for robbers in a outrageous jewelry heist. we hope the video will help track them down. a helicopter flight and experimental technology for medical transplants. medical transplants. a when i take a picture of this check, it goes straight to the bank. oh. oh look the lion is out! no mommy no! don't worry honey, it only works on checks. deposit checks from your smartphone with chase quickdeposit. just snap a picture, hit send and done. take a step forward and chase what matters. >> dan: good
the olympics, you know, his skill set lends to ideas that could get the economy growing. going. but his spokesman said he does not have a specific assignment for his arrival but it was going to be a useful discussion. >> love to hear that. good luck. >>> the lunch comes early in the holiday season in at the white house. decorations include 54 live christmas trees. unveiled yesterday by first lady, michelle obama. thought i was looking in your living room, now, rob. >> does that look like a plastic tree. centerpiece is an outsized 300 pound gingerbread model of the white house sit it's in state dining room. mrs. obama helped the children of military families make holiday decorations and bo, the port g
't see taxes go up on anybody, so that we can engage in tax reform, get this economy going again. we're not playing a game. we're being serious. that offer yesterday was simply not serious. >> oh, boy. scrooge, rope-a-dope. where does that leave us after months of hearing about the fiscal cliff, no signs of a compromise plan yet. chief white house correspondent jessica yellin here now. jessica, what happened to all this, hey, willing to work together, let's compromise, let's do what the american people want, we got a couple of days here before we go on vacation? what happened? >> reporter: i don't know. maybe it is always darkest before the dawn? that's the most optimistic way to look at it, i guess. look, the white house would look at it this way or democrats at least, they have been frustrated that they argue that republicans have not come to the table with specifics on how they would raise taxes. the president as you know campaigned on this pledge to raise taxes on the upper income, and they want to hear what republicans are willing to do on that. so they said since the republican
would be a 'crippling blow' to the economy. >> ".we're at a stalemate.. .let's face it...." >> "vhope that's a figure of speech. shouldn't be talking about a stalemate." we should not even think of that term of a stalemate. >>catherine: the key sticking point....taxes. democrats want to extend bush-era tax cuts for the middle class...while allowing rates to jump republicans don't want a tax rate increase on anyone. period. the white house is hoping that the fact the president is taking his case to the public will help build momentum....and pressure congress to act. of course the real negotiating is going on behind closed doors.. and with 32 days before tax hikes and spending cuts kick in....there are few signs of progress... catherine heenan, kron 4. >> congressional insiders that a deal could be reached before the deadline we will be right back. ♪ aids is not going to take my baby. ♪ aids will not take our future. ♪ our weapons are testing... education, care and support. ♪ and aids... ♪ aids is going to lose. aids is going to lose. ♪ >> the violent rampage in wyoming that
shop and be a participant in our local economy. so, with that, joaquin, thank you for your leadership. we get to launch this wonderful program right here. there are three streets in district 4 that are going to benefit from this. we're going to roll this out to all other 85 neighborhood corridors in the rest of the city. it's that many? 25? [laughter] >> all right, christmas must be coming early. i'll talk to supervisor chu about any more monies we can release. thanks very much. >> thank you, mr. mayor. (applause) >> thank you. and now i'd like to bring up the supervisor, the district that we're in today, someone who is no stranger to the importance of supporting our small businesses whose family used to run a restaurant. and like to invite to speak now supervisor carmen chu. (applause) >> thank you, everyone, for being here today. i want to thank the mayor so much for coming out and launching this pilot here on irving street. as you know, when i came on board in 2007, one of the most important things we wanted to relay was how important it was to not only support our downtown busine
that the fiscal deadlock in washington is already starting to impact the economy. the "institute for supply management" says manufacturing in the u-s shrank last month. on wall street today.. the dow dropped 60- points to fall below 13- thousand. nasdaq also fell eight points.. and the s-and-p 500 lost close to seven. news corp says.... it's shutting down "the daily" -- the first newspaper available exclusively for tablet devices.. because of a lack of readership. this is video from the newspaper's debut in february 2011. it was initially available only on apple's ipad, then expanded to other tablets. the daily's 100 employees are expected to be moved to other news corp. publications. the paper is expected to release its last issue on december 15-th. the move comes as c-e-o rupert murdoch prepares to break news corp. into two [ male announcer ] december is customer appreciation month at subway restaurants. saying thanks is a great deal because we're offering $2 six inch subs -- the cold cut combo or meatball marinara. $2 each, all december long. appreciation tastes amazing! hurry in for y
become...and immigrants can help build a dynamic tomorrow. not only do immigrants help build our economy, they invigorate our soul." >> bush also said america can be a lawful society.. and a welcoming society.. at the same time. >>pam: britain's duchess of cambridge, catherine, still in the hospital.. recovering from acute morning sickness from her pregnancy. her husband.. prince william.. was spotted leaving the hospital earlier today. he reportedly spent much of yesterday by his wife's bedside. kate middleton is reportedly less than 12 weeks along. she is expected to several days. regardless of whether the duchess has a boy or a girl, the baby will be third in line to the british throne, behind prince >> houston police round up a rouge goat that was terroizing children at a middle school this afternoon. officers say the "bully" goat was chasing the kids as they walked to class.. and even tried to head-butt and bite them. no one was hurt however. cops caught up to the goat and held it until animal control arrived. they're now to figure out who owns the goat.. and where it c
-class families in a struggling economy. >> we don't go out to eat much. we don't spend-- we don't go to the movies much. >> we do a lot of thrift store shopping for my kids for clothes. >> reporter: shawn was unemployed for a year in washington state then two years ago he got a job as an accountant with the federal government so the family of six-- their savings depleted-- moved across the country to woodbridge, virginia. his salary of a little more than $70,000 is less than what he used to make. >> before we lost our job they were in-- two were in piano and we haven't been able to do things like that. >> reporter: what's the hardest part of this? >> for me it's my kids, knowing that i want more for them. my oldest, who's the one that's most aware of what we've been going through the last couple years she asked me recently, this summer, she's like "mommy, when are we going to stop feeling like we're poor." i was like, "honey, it's not that we're poor, we just can't do a lot of things that other people do." >> reporter: sean and jody say it's soon going to become even tougher because
to compete in the global economy tomorrow, pal, you've got to embrace diversity. why does coca-cola write a brief to the united states supreme court and general motors and microsoft on issues of diversity and higher education? because they know if they want to get ahead, they've got to embrace that diversity. if they want to continue to be a fortunes 50 company, there's got to embrace diversity. similarly if we want to get down to the local level and address this issue, we've got to teach our kids that the sooner that you embrace difference and understand that your muslim classmate or your seat classmate or your gay classmate or your limited english professor classmate might be tomorrow's ceo or today's best friend of yours, the better off we will be. you have a leg up, having done about 30 jury trials across this country and seen interactions between people of diverse backgrounds. >> and here we try to celebrate, not just embrace, our diversity. celebrate all our interesting diversity but also celebrate the things that bind us together. ruslyn, does can urriculum need to change or i
newsom's energetic leadership the economy grew and the city became an economic center for biotech and clean tech. gach newsom has been a trail blaitzer on combating homelessness and protecting the government. in 2007 he was re-elected as mayor with more than 70 percent of the vote, which is unheard of. please welcome our lieutenant governor, gavin newsom. >> my role was to get tom to speak. i'm just going to jump in because i want to keep you all on time. you've got an agenda packet and i'm going to be held accountable if you don't meet it. roslyn, let's pick up on tom's passion. he told me a couple points that are important, that is the consciousness awareness, this growing consciousness around bullying. and it's a question i guess that requires, has bullying gotten worse or have we gotten better to begin to recognize it? >> hard to know. tom and the president refer to as far too often as a rite of passage. we certainly are seeing evidence in ways that i don't recall, the levels of violence, the vitriolic violence, it's not just coming from the back of the school, it's c
for the economy. that's what the american people voted for. that's how we're going to get it done. >> mr. obama's treasury secretary, tim geithner, went a step further, saying that the president would allow the nation to go over the fiscal cliff at the end of the year, if republicans don't agree to raise taxes on the wealthy. >>> and maybe abraham lincoln can help the fiscal cliff negotiations. harry reid believes so. the senate will get inspiration when reid hosts a clescreening the spielberg movie. >> whatever helps to get things moving, right? >>> hundreds of same-sex couples in washington state lined up overnight to get a marriage license now that they can legally wed. the county clerk's office in seattle opened at midnight to accommodate couples eager to make history. there's another historic first in washington overnight. it is now legal to buy and possess pot. the law, though, bans public use of marijuana, like drinking in public. and it's against the wall to sell pot. the state is trying to work out a system to license growers. >>> and with that, we'll take a look -- >> you can't buy it
're comfortable with. we came in at a number of 370,000 we should be able to create jobs. our economy moving slightly higher. let us talk about apple. i will say apple is down 50% in the last three months apple is over $700 per share. >> it is 528 per share is down another 2%. >> what is going on at apple. >> are they going to go to the 0.0% are they going to go to 23.8, 49%, 44 percent, we do not know. republicans --this is a senate story a senate and congress store. apple a congress story. >> yes that makes sense. >> one of the biggest run ups--when the stock market pulled back on capital gains by the stock. if you want is them gratification it is not for you. i believe it is one of the lowest value companies. >> brian williams asking what is the next product. >> he says well when i wonder in my livermore and he says i see a tv. >> we're waiting for the next big thing in the apple field. >> i can tell you this a valuation basis i can pick the stock with my eyes closed. why have they not done a special dividend yet. it is kind of upset wall street. >> are they a victim of their own success.
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